If the price of petrol is increased by 20% by what percentage should the consumption be decreased by the consumer, if the expenditure on petrol remain unchanged?
Correct Answer: 162/3%
Explanation:
Here, a = 20%
Required percentage loss = [a / (100 + a)] x 100%
= [20/(100 + 20)] x 100%
= (20/120) x 100%
= 162/3%
